October 31, 2016

FG commences new housing programme with N35bn

FG commences new housing programme with N35bn

A Housing Estates in Lagos

By Yinka Kolawole

FEDERAL Government has commenced the pilot phase of the National Housing Programme (NHP) with the sum of N35 billion, as part of efforts to boost the supply of affordable housing units across the country.

Minister of Power, Works and Housing, Babatunde Fashola, disclosed this at the 3rd United Nations Conference on Housing and Sustainable Urban Development (Habitat III) in Quito, Ecuador. He said the housing programme would bridge the huge housing gap in the country, create thousands of jobs, as well as ensure sustainable and affordable homes for the beneficiaries.

In his speech, Fashola stated: “In order to remove the inhibitions and obstacles to the supply of affordable housing units, and to bridge the huge housing gap, we have recently embarked on developing a sustainable National Housing Programme that will form the bedrock for aggressively reducing the housing deficit in Nigeria.”

“Its critical features are responsiveness to the needs of the end users based on surveys, affordability analysis and income differences; responsiveness to cultural and climatic diversity; responsiveness to local economic needs; and focus on the SMEs and cottage industries as drivers of building inputs like doors, windows, plumbing and electrical fittings; and piloting and validating the concept by starting small with N35bn ($115m) to prove it.”

The minister said Federal Government’s priority interventions included, among others, increased investments in affordable housing, modern road infrastructure, highways, bridges and efficient transport networks.